Cash Converters Personal Loan

Information verified correct on October 25th, 2016

Borrow up to $2,000 from one of Australia's most established short term lenders.

If you're in need of financing and want to be sure you're borrowing from a trusted lender, you might want to consider a personal loan from Cash Converters. It's been in the lending business since 1984, and now Cash Converters is offering a personal loan that you can conveniently apply for online. Whether you need funds to cover an unexpected expense, you didn't budget well enough to see you through the month or if you need to make a large purchase, Cash Converters has a loan that you might be eligible for.

Product NameCash Converters Personal Loan
Min Loan Amount$400
Max. Loan Amount$2,000
Loan TermUp to 12 months
Turnaround Time24 - 48 hours
Total Cost of Borrowing $10020% establishment fee + 4% monthly fee
RequirementsYou must be over 18 and have a steady income of at least $300 per week
Available to Centrelink borrowersYes

How does a Cash Converters Personal Loan work?

This loan is available for a longer term than what is on offer with similar products. You can apply for up to $2,000 and repay it over a period of up to 12 months. You'll need to pay a fee to establish the loan and also ongoing monthly costs.

Features of a Personal Loan from Cash Converters

  • Fast application. The online application process is quick and can be completed in about five minutes.
  • Loan amount. You can apply for a loan between $400 and $2,000.
  • Quick turnaround. After you've signed your electronic loan contract, you will be sent your funds. If you bank with one of the Big Four you can receive your loan amount within a few hours, and by the latest the next business day.
  • How long you have to repay it. Repayment terms vary depending on your individual loan contract, but your loan will be repaid over a period of 6 months to 12 months.

Compare other payday loans

Whilst we don't compare Cash Converters Personal Loan directly, here are some other loans that are similar.

Rates last updated October 25th, 2016
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How much does it cost to borrow?

Cash Converters Personal Loans come with a 20% establishment fee + 4% monthly fee. The longer you take to repay the loan, the more you'll end up paying in monthly fees. If you fail to make your repayments on time, a dishonour fee of $33 applies. There are no additional daily fees and no rescheduling fees.

Are you eligible for a Cash Converters Personal Loan?

Each loan application is assessed by a representative from Cash Converters, who will establish your ability to repay the loan. The minimum eligibility criteria are that you are over the age of 18 and reside in Australia, whereas everything else is judged on a case-by-case basis.

  • If you receive Centrelink payments: You can apply if you receive Centrelink payments, but what you borrow may be limited so that your repayments in any period do not exceed 25% of your gross income. This includes repayments to other lenders as well as the new loan you're applying for from Cash Converters.
  • If you're in a Part 9 Debt Agreement: You aren't eligible for a Cash Converters Personal Loan. However, if you have been successfully discharged from a Part 9 Debt Agreement you are able to apply.
  • If you're not an Australian resident: You're able to apply for this product if you're a resident or a 457 Visa holder. You aren't eligible for the Cash Converters Personal Loan if you aren't a resident, but you are eligible to apply for a Cash Converters Cash Advance in-store.
  • If you have bad credit: Cash Converters will consider your current financial situation when you apply, but are generally more lenient than the banks when it comes to bad credit. If they see you will be able to manage your loan, your application will be considered.
  • If you're a casual employee: You need to earn at least $300 per week in order to be assessed, but you can still apply for a Cash Converters loan.

How you can apply

You can apply for a Cash Converters Personal Loan in-store or online. Applying is easy and the form shouldn't take longer than five minutes. To be eligible, you need to be over the age of 18 and reside in Australia. Have the following on hand to complete your application:

  • Your bank account history for the last 90 days where your income is deposited into
  • A copy of your Medicare card
  • If you receive Centrelink payments, you'll need a current income statement.

Once you've filled out the application form, Cash Converters will check the information and see if you fit their lending criteria. If you're approved, you'll be sent an electronic loan contract, and once you've signed it your loan amount will be transferred to you within 24 - 48 hours.

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78 Responses to Cash Converters Personal Loan

  1. Default Gravatar
    James | October 9, 2016

    Hi there how many loans can one person have with you guys at a time?

    • Staff
      Elizabeth | October 10, 2016

      Hi James,

      There’s no specific limit, but if you apply for a loan when you’re currently repaying one, you will be assessed as to your ability to manage both. Cash Converters says it has “strict guidelines” on approval of multiple loans, but to contact the store you applied at or its customer service team to find out if you’re eligible.

      Hope this helps,


  2. Default Gravatar
    Kelly | September 10, 2016

    I have a personal loan through Cash Converters but wasn’t given any paperwork to show me how much I’m paying each fortnight and how long for?

    • Staff
      Elizabeth | September 12, 2016

      Hi Kelly,

      You’ll need to contact Cash Converters directly to find out this information, but if you received any communication from them – email, SMS – your repayments may be listed there. You can contact Cash Converters on 1800 170 086, or email Otherwise contact the store where you applied for your loan to find out your remaining balance.

      Hope this helps,


  3. Default Gravatar
    Eldar | August 16, 2016

    Can I borrow money from you?
    I am a NORWEGIAN man living in Thailand and I have my retirement from Norway (25000 NOK) every mnd. but I need $2000 to finish my house her.
    I have a bad credit record so I can not borrow in Norway.
    And here in Thailand is it possible?
    Look forward to hear from you !!

    • Staff
      Anndy | August 16, 2016

      Hi Eldar,

      Thanks for your question.

      Please note that is a financial comparison and information service and not a lender.

      To be eligible to apply for Cash Converters Personal Loan, you need to be a resident of Australia.


  4. Default Gravatar
    tameeka | August 8, 2016

    Hello i would like to know if use received my income statement also how my application is going. Thank you :)

    • Staff
      Elizabeth | August 9, 2016

      Hi Tameeka,

      You’ve come through to, a financial comparison service and not Cash Converters. You’ll need to contact Cash Converters directly to check on the status of your application. You can head to its website to find out their contact information.

      Hope this helps,


  5. Default Gravatar
    Ursula | July 18, 2016

    How prompted does the money transfer into my account

    • Staff
      May | July 18, 2016

      Hi Ursula,

      Thanks for your inquiry.

      With Cash Converters, your online application process is quick, and can be completed in only about five minutes. Once you’ve signed your electronic loan contract, you will be sent your loan funds. If you bank with one of the Big Four banks you can receive your loan amount within a few hours, and by the latest the next business day. If you want to follow-up your application, you may contact Cash Converters directly.

      Hope this helps.


  6. Default Gravatar
    Glenn | July 17, 2016

    Can I get an increase on existing loan?

    • Staff
      May | July 17, 2016

      Hi Glenn,

      Thanks for your inquiry.

      Just to confirm that you’ve come through to – we are financial comparison website and general information service and we do not represent Cash Converters.

      If you’d like to know whether you can increase your existing loan with them, please get in touch with Cash Converters directly.


  7. Default Gravatar
    Pellista | June 10, 2016

    I’ve applied for a personal loan yesterday and was wondering how long will it take to get a reply on whether the loan has been approved?

    • Staff
      Anndy | June 10, 2016

      Hi Pellista,

      Thanks for your comment.

      Please note that is a financial comparison and information service and does not represent any loan company.

      If you applied for Cash Converters Personal Loan, whether online or in-store, your application will be assessed within 24 business hours after all necessary documents are received.


  8. Default Gravatar
    cassar | June 9, 2016

    How do I apply for a $600.00 personal loan online if I am on Centrelink DSP payments?

    thank you from


    • Staff
      Elizabeth | June 9, 2016

      Hi Cassar,

      You can head to the Cash Converters website and submit your application for a loan – you’ll need to provide a current Centrelink Income Statement to apply. Keep in mind that the repayments from your loan can’t be more than 20% of your Centrelink income.

      I hope this helps,


  9. Default Gravatar
    Aleasha | June 1, 2016

    I need a personal loan but I do not have a job. My income situation is different from most people. My son’s father doesn’t want our son going to daycare so he gives me money every week to stay home with him but I don’t use a bank account he basically just gives me cash every week after he gets paid. I don’t know if I would need him to give a statement saying he gives me X amount of money in order to get a loan through your company?

    • Staff
      Elizabeth | June 3, 2016

      Hi Aleasha,

      Just to clarify, you’ve come through to, a financial comparison service and not Cash Converters – we don’t provide the loans ourselves. When applying for a loan with Cash Converters you need to be able to provide evidence of your income in order to be approved for a loan. As you don’t deposit the cash into your bank each week you won’t be able to verify your money this way so you may need to apply for the loan in-store – if you can get your son’s father to provide statements or start depositing the cash into your account to show evidence of a regular income, this may help your application.

      You can check if you have enough to apply by heading to a Cash Converters store.

      Hope this has helped,


  10. Default Gravatar
    Ashleigh | May 23, 2016

    Hi i was approved on friday for an online loan & everything was signed by Saturday morning including my online contract then i recieved a msg again saying everything approved funds will be going in. Oviously it was a sat so werent going to get funds then so does that mean ill get it today or tomorrow?

    • Staff
      Elizabeth | May 23, 2016

      Hi Ashleigh,

      Your funds will be transferred the next business day, so you should expect to receive them on Monday.

      Hope this helps,


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